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Investment Plan for Europe: EIF and NRW.BANK and 6 regional promotional institutions sign agreement providing EUR 110 million to innovative German SMEs

    Date: 20 June 2016

The European Investment Fund (EIF) and NRW.BANK and six regional promotional institutions have signed an InnovFin agreement for SMEs and small mid-caps in Germany, benefitting from the support of the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe.

The InnovFin agreement will enable NRW.BANK together with the other six regional promotional institutions to provide loans to innovative companies in seven federal states of Germany. The six institutions are Landesförderinstitute (LFIs): Wirtschafts- und Infrastrukturbank Hessen (WIBank), Investitions- und Strukturbank Rheinland-Pfalz (ISB), Investitionsbank Schleswig-Holstein (IB.SH), Hamburgische Investitions- und Förderbank (IFB Hamburg), Investitionsbank des Landes Brandenburg (ILB) and Investitionsbank Berlin (IBB).

The loans will be granted over the next two years with the support of a guarantee provided by EIF and backed under Horizon 2020, the EU Framework Programme for Research and Innovation. The EU support for innovative German companies is expected to generate a portfolio of EUR 110 million of loans.

Commenting on this agreement, EIF’s Chief Executive, Pier Luigi Gilibert, said: “Signing this EFSI guarantee agreement allows us to access a substantial number of innovative SMEs via the regional promotional institutions’ network of on-lending banks in Germany. This is a good example of how regional finance providers can channel finance to SMEs developing new products and services.”

European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, stated: “This new EFSI transaction with NRW.BANK and the six regional German institutions shows that the Investment Plan is gaining more visibility in Europe. I am thankful to NRW.BANK for coordinating this agreement, which will allow easier access to finance for SMEs across Germany. Regional and local financial institutions and authorities have a very important role to play under the Investment Plan and I encourage other Member States to work together at regional level.

NRW.BANK’s Chairman of the Managing Board, Klaus Neuhaus, said: “Channeling European funds to Germany helps innovative SMEs to enhance their competitive ability and to provide and safeguard jobs.”

The deal signed today in Germany reflects the EU's commitment to rapidly launch concrete initiatives under the EFSI, accelerating lending and guaranteeing transactions capable of boosting jobs and growth in the EU.

About the EIF

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe's micro, small and medium-sized businesses (SMEs) by helping them to access finance. EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth, and employment. More information on the EIF's work under the EFSI is available here.

About the Investment Plan for Europe

The Investment Plan for Europe focuses on removing obstacles to investment, providing visibility and technical assistance to investment projects and making smarter use of new and existing financial resources. The EIB estimates that by May 2016, the European Fund for Strategic Investments (EFSI) is expected to have triggered more than EUR 110 billion of investment in Europe.

Find out the latest EFSI figures including a break-down by sector and by country here. For more information see the FAQs.

About InnovFin

The InnovFin SME Guarantee Facility provides guarantees and counter-guarantees on debt financing of between EUR 25,000 and EUR 7.5 million in order to improve access to loan finance for innovative small and medium-sized enterprises and small mid-caps (up to 499 employees). The facility is managed by the EIF, and is rolled out through financial intermediaries – banks and other financial institutions – in EU Member States and Associated Countries. Under this facility, financial intermediaries are guaranteed by the EIF against a proportion of their losses incurred on the debt financing covered under the facility.


Press Contacts

EIF: David Yormesor
Tel.: +352 24 85 81 346, E-mail: d.yormesor@eif.org

Europäische Kommission: Siobhán Millbright
Tel.:+ 32 (0)2 29 57 361, E-mail: siobhan.millbright@ec.europa.eu

NRW.BANK: Caroline Gesatzki
Tel.: 0211 91741 1847, E-mail: caroline.gesatzki@nrwbank.de

Investitionsbank des Landes Brandenburg: Matthias Haensch
Tel.:+49 (0)331 660 1505, E-mail: matthias.haensch@ilb.de

Hamburgische Investitions- und Förderbank: Torsten Fragel
Tel.: 040 24 84 6 – 310, E-Mail: T.Fragel@ifbhh.de

Investitionsbank Berlin: Jens Holtkamp
Tel: 030 / 2125-2960, E-Mail: Jens.Holtkamp@ibb.de

Wirtschafts- und Infrastrukturbank Hessen: Claudia Ungeheuer
Tel.: 069 - 91 32-37 16, E-Mail: Claudia.Ungeheuer@wibank.de

Investitionsbank Schleswig-Holstein: Matthias Günther
Tel.: 0431 9905-3481, E-Mail: matthias.guenther@ib-sh.de

Investitions- und Strukturbank Rheinland-Pfalz (ISB): Kristina Rogoß
Tel.: 06131 61721670, E-Mail: kristina.rogoss@isb.rlp.de


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